When you apply for an ICICI PayLater account, you will get up to 20,000 credit limit amount for online usage and money transfer. You can pay your due amount within 45 days and there is no interest rate will be applied when you pay within 45 days.
ICICI PayLater account facility is available for selected ICICI account holders can if you are eligible for this facility then you can activate and manage ICICI PayLater directly through the mobile banking application.
If you are interested in ICICI PayLater then here we will guide you step by step on how to apply for an ICICI PayLater account and activate it online.
Apply & Activate ICICI PayLater Account Online
(1) Login to your ICICI iMobile banking application and open the “Accounts & Deposits” section where you can see your active accounts.
(2) In the accounts & deposits section, you can see the “PayLater Account” option, select this option and tap on “Activate Now”
(3) Next screen accept the terms and conditions and submit your activation request by clicking on got it.
(4) Next, you need to select your savings account number and set auto debit instructions. Now due amount will be auto-debited from your saving account.
(5) Congrats, your ICICI pay later account has been approved. You can also see your virtual payment address (UPI ID) to pay online using UPI. Now you can use your PayLater credit amount for online shopping and also you can link with any UPI application and transfer money to other bank accounts.
To pay online using your ICICI Pay later account, all you need to do is select the UPI option on the payment page and type your Pay later UPI ID (VPA), and request payment. Now login to mobile banking and open the Pay later section and approve the payment.
You can also link your ICICI PayLater account with UPI applications like PhonePe, and Google Pay and transfer money to any bank account.